Rio Tinto Supports World Bank Launch of Climate-Smart Mining Facility

WASHINGTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/RioTinto?src=hash” target=”_blank”gt;#RioTintolt;/agt;–The World Bank today launched its new Climate-Smart Mining Facility,
aimed at building partnerships to manage the role mining will play in
supplying the minerals needed for clean energy technologies to help
address climate change.

The initiative will bring together governments, private sector
companies, academic and research institutions to promote sustainable
mining practices in resource rich developing countries, with initial
support from Rio Tinto, Anglo American and the German government.

Climate-Smart Mining has been developed in concert with the broader UN
Sustainable Development Goals to ensure that the benefits from the
transition to low-carbon technologies are shared.

It will innovate and deploy financing to scale up technical assistance
and support for projects such as:

The integration of renewable energy into mining operations

The strategic use of geological data for a better understanding of
“strategic mineral” endowments

Recycling of minerals supporting developing countries to take a
circular economy approach and reuse minerals in a way that respects
the environment

The Facility will also assist governments to build a robust policy,
regulatory and legal framework that promotes climate-smart mining and
creates an enabling environment for private capital.

Rio Tinto Chief Executive J-S Jacques said, “The transition to clean
energy solutions presents both a significant opportunity and
responsibility for the mining industry, as it provides the materials
that make these technologies possible. We want to be part of the
solution on climate change and the best solutions will come from
innovative partnerships across competitors, governments and
institutions. Our collaboration with the World Bank and many others is
aimed at making a real difference by promoting sustainable practices
across our industry. We look forward to supporting the Climate-Smart
Mining Facility by contributing not just funding but also expertise as a
leader in sustainable mining practices.”

World Bank Senior Director and Head of the Energy and Extractives Global
Practice Riccardo Puliti said, “The World Bank is committed to working
with Rio Tinto and all stakeholders involved in creating renewable
energy technologies. Given global demand for minerals used in energy
storage and batteries such as lithium, nickel and graphite will soar by
2050, mining for these strategic minerals must be managed responsibly
and sustainably.”